1 Grumman Road, Bethpage, NY

Purchased Leroy Grumman’s first building on Long Island; 386,000 SF of office/industrial located on a 30-acre parcel
Perceived functional and physical obsolescence intimidated other potential purchasers; JSR Capital Group acquired the asset for $29 PSF
Strategic capital improvements to the mechanicals and overall building
Able to secure long-term lease with Northrop Grumman and leased remaining space to 3G Warehouse, a Long Island headquartered logistics company
Sold the renovated building 2.5 years later for approximately 1.7x total invested capital
Significant Equity Multiple